Hotel benchmarking survey results revealed
I’ve just completed the Moore and Smalley annual hotel benchmarking review.
The accounting data for hotels with accounting periods ending in 2011 has been analysed and compared to the results from 2010.
The report has revealed a small increase in net profit for hotels in spite of an average drop in turnover by 5%. This leads us to conclude that hotels have managed to achieve this slight upturn in profit by undertaking cost cutting exercises as opposed to through a growth in sales.
Headline findings reveal:
• A small average increase in net profit for all hotels
• A drop in turnover of around 9% for hotels in seaside resorts
• An increase in turnover of under 1% for hotels in the Lake District
• Wage costs have increased from 35% to 37% as a percentage of turnover
• Investment in hotels (as a percentage of turnover) has dropped considerably from 2010
For more information on the benchmarking results please contact me on 01772 821021 or email email@example.com. There’ll also be an article on the findings in our next issue of Hospitality Update.